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A Path For Gold Price To As High As $1434

Gold’s rally, which took off in earnest a week ago, signaled more to come on Thursday when it pushed above two prior peaks on the daily chart (see inset). This indicates a new and healthy trend, according to the proprietary Hidden Pivot Method that we use to trade and forecast the markets. Notice that with just a little more oomph, the March contract could surpass two additional ‘external’ peaks on the daily chart (see inset). That would put them within a few ticks of tripping a theoretical ‘buy’ signal, shifting our focus, if not yet our expectations, to the 1434.80 target.

Buyers would still face crucial resistance at the red line, a ‘midpoint pivot’ at 1279.60, but that would become the minimum upside objective once the green line has been exceeded decisively (i.e., by $2 to $3). Yes In the meantime, subscribers should stay tuned to the chat room, since tradable ideas in this vehicle are getting a pretty good play in real time.

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